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CLEVELAND — BWE, the commercial finance firm formerly known as Bellwether Enterprise Real Estate Capital, has arranged a $260 million loan for the refinancing of a portfolio of six properties totaling roughly 1,500 units. The company is based in Cleveland.
Northwestern Mutual provided the five-year loan, which was structured with a 5.07 percent interest rate, full-term interest-only payments and a 55 percent loan-to-value ratio. The borrower was not disclosed. All properties were constructed within the past decade, and the portfolio had an occupancy rate of approximately 95 percent at the time of the loan closing.
The properties included in the portfolio were:
- Skyhouse Austin in Austin, Texas
- The Addison Apartments in Austin
- Victory Flats in Beaverton, Oregon
- The Encore Southpark in Charlotte, North Carolina
- Hartley Flats in Denver
- Studio LoHi in Denver